Vodafone Idea (Vi) has approached the State Bank of India (SBI) for a loan of Rs 15,000-16,000 crore to meet its capital expenditure needs and fund its gear supply for the 5G rollout, a report in the Economic Times (ET) said.
The talks have reportedly been going on for over a month now and SBI is waiting to get clarity on the government's potential shareholding in Vi, the report added.
While Jio has consistently added new subscribers (net addition) every year since its launch, Airtel has been able to contain porting out with porting in and new subscribers as they take up smartphones.
Vodafone lost out, not so much in the immediate years after Jio’s entry, as much after the pandemic. In fact, Airtel and Jio added a similar number of net new customers from September 2020 to September 2021, eating into the subscriber base of Vi with nearly equal force.
Shares of Vodafone Idea (Vi) hit a fresh 52-week high of Rs 16.40, on surging 15 per cent on the BSE in Thursday’s intra-day trade amid heavy volumes after the media report suggest that the company managed to raise funds for repayment of interest to bondholders on time.
The stock of telecom service provider was trading at its highest level since May 7, 2019. It surpassed previous high of Rs 15.88 hit on December 6, 2021.
Shares of Vodafone Idea (VIL) were quoting higher for the fourth straight trading days, hitting 31-month high of Rs 15.24, up 5.5 per cent on the BSE in Monday’s intra-day trade. The stock of telecom services provider was trading at its highest level since May 8, 2019 and has surged 38 per cent in the last four trading sessions. With the current rally, the market value of VIL has zoomed 235 per cent from its 52-week low level of Rs 4.55 touched on August 5, 2021.
Shares of Vodafone Idea (VIL) hit a fresh 52-week high of Rs 14.34 after they rallied 12 per cent on the BSE in Friday’s intra-day trade. The stock has surged 32 per cent so far this week. Besides, the stock of the telecom services provider has crossed its 52-week high level of Rs 13.80, touched on January 15, 2021, and has hit the highest level since June 2019.
Till 03:02 pm; a combined 874 million shares changed hands on the NSE and BSE. The stock trades in the futures & option (F&O) segment, which has no circuit limits. In comparison, the S&P BSE Sensex was down 1.3 per cent or 744 points at 57,717.
Shares of Vodafone Idea (VIL) were trading higher for the second straight day, up 6 per cent at Rs 13.40 on the BSE in Thursday’s intra-day trade, and have rallied as much as 21 per cent in past two days on the back of heavy volumes. The stock of telecom services provider was quoting near to its 52-week high level of Rs 13.80 touched on January 15, 2021.
In the past two weeks, the stock has surged 34 per cent after the company increased its prepaid tariff by 20-25 per cent from November 25, 2021.
Shares of Vodafone Idea hit a fresh nine-month high of Rs 12.39, surging 14 per cent on the BSE in Monday’s intra-day trade on back of heavy volumes. In the past six trading days, the stock of telecom services provider has rallied 24 per cent after the company increased its prepaid tariff by 20-25 per cent from November 25, 2021.
The stock was trading at its highest level since February 12, 2021. It had hit a 52-week high of Rs 13.80 on January 15, 2021. At 9:48 am, Vodafone Idea had pared some of its gains and was up 6 per cent at Rs 11.54 on the BSE.
Cash-strapped Vodafone Idea (VI) has taken a lead in hiking tariffs by 6 to 8 per cent as it struggles to retain customers and clear its pending dues. However, the company has moved cautiously by raising the tariff only in limited circles such as Uttar Pradesh. While the hike comes into immediate effect, there has been no announcement.
In the post-earnings call in October, Vodafone Idea managing director Ravinder Takkar had said the company would not shy away from taking the first step in raising tariffs.
The Board of Directors of Vodafone Idea Ltd (VIL) will meet on Friday to discuss and evaluate proposals for raising funds in one or more tranches through public issue, issue of equity shares or securities among other options.
The announcement came after the Supreme Court's September 1, verdict on the Adjusted Gross Revenue (AGR) issue, wherein the top court gave a 10-year timeline to the telcos to repay their dues, with an upfront payment of 10 per cent by March 31, 2021.
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.